U.S. Manufacturing Innovation at Risk
A new report released this week by the Council of Manufacturing Associations (CMA) and The Manufacturing Institute of the National Association of Manufacturers (NAM) states that downward trends in U.S. manufacturing innovation pose a serious threat to America’s long-term economic growth.
The report, produced by Dr. Joel Popkin, examines what he calls five clear warning signs that America’s innovation process is at risk. He points to a slower than usual economic recovery, a shortage of skilled workers, a shrinking U.S. share of global trade in manufactured products, and slower growth in research and development funding and manufacturing capacity.
The report also outlines a broad agenda to help reverse these trends. “We need a bold action agenda to develop human capital, revitalize fundamental research and encourage productivity-enhancing investments in order to maintain a critical mass of production and a viable innovation process in this country,” Dr. Popkin said.
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